Inflation up to 9.6%

The National Bureau of Statistics on Sunday released the Consumer Price Index for the month of December with the country’s inflation rate increasing from 9.4 per cent to 9.6 per cent.

The bureau in the report said the increase was as a result of an increase in the headline index driven in part by higher prices within key divisions contributing to the index. In particular, it said imported food items within the food and non-alcohol beverages division, alcoholic beverage, tobacco and kola, clothing and footwear and transportation, as a result of intermittent supply shortages in petrol, impacted the index negatively.

It said, “In December, the pace of increases recorded by Consumer Price Index which measures inflation increased for the second consecutive month.The headline index increased by 9.6 per cent (year-on-year), 0.2 per cent points higher from rates recorded in November.” Read more